Originally published in BLG's Directors' and Officers' Liability Review, Summer 2007
Litigation funding is a growth industry both in the UK and beyond these shores. Company directors (especially those who benefit from D&O insurance) will be among those in the firing line as tempting targets for such claims.
Other obvious targets include professional advisers. For example, the accountancy firm Moore Stephens has recently found itself on the receiving end of a £90 million negligence claim by the liquidator of Stone & Rolls over its role as auditor of that company. The claim against Moore Stephens is being funded by IM Litigation Funding, a UK company. To date, it is the largest claim in the UK involving independent litigation funders....
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